Bitcoin has reached a new all-time high of $118,397.8, climbing 6.5% in the past 24 hours. This rise coincides with the S&P 500's record-setting rally, which saw the index increase by 1.51% to 6,333 points. Crypto analyst Kevin Svenson predicts a potential parabolic rally for Bitcoin, suggesting it could soon target $120.5K and possibly reach $140K–$150K. The cryptocurrency began the month at approximately $105,678.62 and has gained 8.99% since July 8, driven by increased buying pressure.